Ryan Harris Sells 4,500 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the completion of the transaction, the executive vice president directly owned 150,516 shares in the company, valued at approximately $8,004,440.88. The trade was a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Bancorp Stock Up 0.1%

TBBK stock opened at $53.14 on Wednesday. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $81.65. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.24 billion, a P/E ratio of 10.80 and a beta of 1.31. The firm has a 50 day simple moving average of $60.93 and a 200-day simple moving average of $67.32.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The company had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. On average, equities research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Trading of Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Bancorp by 98.2% in the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock worth $4,052,000 after buying an additional 37,993 shares during the last quarter. AQR Capital Management LLC raised its stake in Bancorp by 15.9% during the first quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after acquiring an additional 2,296 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bancorp by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock worth $1,436,000 after acquiring an additional 518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bancorp by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock worth $7,795,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Bancorp by 145.8% in the first quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock worth $6,773,000 after acquiring an additional 76,027 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Analysts Set New Price Targets

TBBK has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price on the stock. Wolfe Research set a $57.00 price target on Bancorp in a research note on Monday, February 9th. Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Bancorp in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.